CNOOC Energy Technology & Services (SHSE:600968) ROCE % : 10.19% (As of Mar. 2024)

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What is CNOOC Energy Technology & Services ROCE %?

ROCE % measures how well a company generates profits from its capital. It is calculated as EBIT divided by Capital Employed, where Capital Employed is calculated as Total Assets minus Total Current Liabilities. CNOOC Energy Technology & Services's annualized ROCE % for the quarter that ended in Mar. 2024 was 10.19%.

CNOOC Energy Technology & Services ROCE % Historical Data

The historical data trend for CNOOC Energy Technology & Services's ROCE % can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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CNOOC Energy Technology & Services ROCE % Chart

CNOOC Energy Technology & Services Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

ROCE %

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10.67

10.68

9.01

12.64

14.60

CNOOC Energy Technology & Services Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
ROCE %	Get a 7-Day Free Trial															8.92	16.83	15.66	17.17	10.19

CNOOC Energy Technology & Services ROCE % Calculation

CNOOC Energy Technology & Services's annualized ROCE % for the fiscal year that ended in Dec. 2023 is calculated as:

ROCE %	=	EBIT	/	( (Capital Employed	+	Capital Employed)	/ count )
		(A: Dec. 2023 )		(A: Dec. 2022 )		(A: Dec. 2023 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(A: Dec. 2023 )		(A: Dec. 2022 )		(A: Dec. 2023 )
	=	3950.184	/	( ( (40670.872 - 14851.49)	+	(44905.592 - 16617.097) )	/ 2 )
	=	3950.184	/	( (25819.382	+	28288.495)	/ 2 )
	=	3950.184	/	27053.9385
	=	14.60 %

CNOOC Energy Technology & Services's ROCE % of for the quarter that ended in Mar. 2024 is calculated as:

ROCE %	=	EBIT ⁽¹⁾	/	( (Capital Employed	+	Capital Employed)	/ count )
		(Q: Mar. 2024 )		(Q: Dec. 2023 )		(Q: Mar. 2024 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(Q: Mar. 2024 )		(Q: Dec. 2023 )		(Q: Mar. 2024 )
	=	2917.648	/	( ( (44905.592 - 16617.097)	+	(42461.937 - 13497.018) )	/ 2 )
	=	2917.648	/	( ( 28288.495	+	28964.919 )	/ 2 )
	=	2917.648	/	28626.707
	=	10.19 %

(1) Note: The EBIT data used here is four times the quarterly (Mar. 2024) EBIT data.

CNOOC Energy Technology & Services (SHSE:600968) ROCE % Explanation

ROCE % can be especially useful when comparing the performance of capital-intensive companies. Unlike ROE %, which indicates the profitability of Shareholders Equity, ROCE % also considers long-term debt in Capital Employed. This can be helpful when analyzing companies with significant debt, as the result is neutralized by taking debt into consideration.

Generally speaking, a higher ROCE % indicates a stonger profitability for a company. Moreover, it is important to look at the ratio from a long term perspective. Investors tend to favor companies with stable and rising ROCE % trend over those with volatile ones.

CNOOC Energy Technology & Services ROCE % Related Terms

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CNOOC Energy Technology & Services (SHSE:600968) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » CNOOC Energy Technology & Services Ltd (SHSE:600968) » Definitions » ROCE %

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N/A

Address

Number 6 Waizhi Street, Haiyou Building, Dongzhimen, Dongcheng District, Beijing, CHN, 100027

Website

https://cenertech.cnooc.com.cn

CNOOC Energy Technology & Services Ltd is a diversified industrial group that covers most of the upstream and downstream sectors of the oil and gas industry chain, forming four core business segments: energy technology services, FPSO production technology services , energy logistics services, safety, environmental protection and energy conservation.

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